Energy Transfer Partners Completes Public Offering Of Units For US$1 Billion

Published: Aug 11 2017
Deal Summary

Energy Transfer Partners, L.P. (ETP) an owner and operator of a diversified portfolio of energy assets, completed the public offering of 54 million (MM) units, at a price of US$18.65 per unit, for gross proceeds of US$1,007.1 MM. The company received net proceeds of approximately US$997 MM. In addition, the company granted the underwriter a 30-day option to purchase up to 8.1 MM units.

Barclays Capital Inc., acted as book runner while Morgan Stanley & Co. LLC, UBS Securities LLC, Wells Fargo Securities, LLC, acted as underwriters to the company for the offering. Latham & Watkins LLP acted as legal advisor to the company for the offering.

The company intends to use the proceeds from the offering to repay amounts outstanding under its revolving credit facilities, to fund capital expenditures and for general partnership purposes.

Deal history

Completed: On August 18, 2017, Energy Transfer Partners completed the public offering of 54 MM units, at a price of US$18.65 per unit, for gross proceeds of US$1,007.1 MM.

Pricing: On August 14, 2017, Energy Transfer Partners priced the public offering of 54 MM units, at a price of US$18.65 per unit, for gross proceeds of US$1,007.1 MM.

Announced/Filing: On August 11, 2017, Energy Transfer Partners filed the prospectus for the public offering of 54 MM units.

You can receive free Monthly detailed “Deals Analysis Alerts” delivered directly to your
inbox – sign up below:

* Indicates Mandatory
*Name:  
*Company:  
*Email:    
*Country:  
*Phone Number:          
Comments:
  captcha refresh
Enter Captcha Code:    

Send to friend

*Your EmailID:    
Message:
*Friend's EmailID:    
  captcha refresh
Enter Captcha Code: